Q&A is a powerful due diligence tool. Anyone who has access to your VDR can ask questions and receive answers. It improves communication and reduces the amount of effort in several meetings. It ensures that both parties are fully aware of the project, the terms and conditions Data Room Q&A and what they can expect from the deal.
The Q&A feature is already installed on Firmex. It can be activated when creating the Data Room or editing one that already exists. If Q&A is enabled, a Question tab is displayed in the Data Room. Click the Question button on the Data Room interface to request a query. You will be presented with a pop-up window where you can enter the title of the question, additional details, and a hyperlink to an informational document. You can save the question (if you’re an Author of Questions) as a draft, or send it to Answer Side (if your are a Questions Coordinator).
After the Q&A process has been put in motion the participants will be informed when the question asked been answered. They can do this by clicking on an icon on their screen. They can then review the response, or reopen the question to inquire for more information. The Q&A tool can be used to conduct due diligence in M&A RFP/RFI or procurement processes. It is adaptable and customizable according to your requirements.
Automate the Q&A workflow to ensure that questions are directed to the right team, without the need for manual assignment. This lets subject matter experts concentrate on answering questions, rather than on managing the task.